MILAN -- French asset management firm Tikehau Capital has taken a 30 percent stake in Euro Group Laminations, which counts Volkswagen and Porsche as customers for its electric motor components.
The companies did not reveal the value of the investment, however, Italian financial daily Il Sole 24 Ore, without naming its sources, said the transaction was worth about 50 million euros.
As part of the deal, Tikehau gets two Euro Group board seats, one of which will go to longtime industry executive Jean-Marc Gales.
Gales, 57, stepped down as Lotus CEO in June 2018. He has also held top jobs as Mercedes-Benz and PSA Group.